Stout has advised North River Capital (“North River”) on the sale of its portfolio company, Wayne Manufacturing, LLC (“Wayne”), a manufacturer of complex, stamped steel components and assemblies, to The Hoffmann Family of Companies (“Hoffmann”). The transaction closed on June 8, 2023. Stout served as exclusive sell-side financial advisor to North River and Wayne in connection with the transaction.

Founded in 1963 and headquartered in LaOtto, IN, Wayne produces over 130 products for the automotive and consumer product industries, utilizing the latest technologies in 3D tool design, simulation, tool build, weld monitoring, automation, and quality standards.

Based in Naples, FL, Hoffmann is a multi-vertical, family-owned company consisting of over 115 national brands, employing 9,000 global employees with businesses located in 30 counties and 250 locations around the world.

North River is a private equity capital firm headquartered in Fort Wayne, IN. North River’s investment objective is to seek manufacturing companies with a strong management team and an identifiable niche in their industry.

“We are very pleased with the outcome of this transaction,” said Grant Schultz, Partner at North River. “Stout did a terrific job in finding a new partner for Wayne; we wish Craig Parsons and the rest of the Wayne team continued success.”

Gian Ricco, Managing Director at Stout, said, “We are excited to see the future partnership between Hoffmann and the Wayne management team. For over 60 years, Wayne has provided its customers with exceptional results and earned its reputation as a dedicated and trusted supplier. By partnering with Hoffmann, Wayne can embark on its next chapter of growth.”

Stout’s Michael Jenny, David Hale, Jack Kedroski, Jack Ronan, and Michael Gerszonovicz also led the execution of the transaction.

Bose McKinney & Evans served as legal counsel to North River and Wayne. Berger, Cohen & Brandt served as legal counsel to Hoffmann.

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